HA...right behind our house are 69 empty lots in a subdivision separate from ours...and we there are no trees on them....just dirt and weeds! ONE has a sold sign on it...and ONE is just now being built on...the lots were put on the market about 18 months ago...It’s happening EVERYWHERE. (This is in W. OREGON)
In our area, an intended high-end subdivision was recently abandoned. For months they displayed a “hurry up and buy - 5 homes already sold” sign. Apparently there weren’t enough people hurrying in with their deposits, since the site was planted with corn this summer, and the sign disappeared. I suppose they leased it to a farmer until it can be developed profitably. I’m just glad the decision was made before construction began. No eyesore and our local geese are contentedly scavenging corn.
Five empty lots behind me in SE Virginia, unsold for two years, and they're riverfront. Asking prices are down 30% from original listings, and still dropping. The developer seems to have almost given up for the time being, he's not even bothering to keep the lots clean and walkable.